{"id":441,"date":"2022-12-10T11:00:40","date_gmt":"2022-12-10T11:00:40","guid":{"rendered":"https:\/\/wagecan.com\/blog\/?p=441"},"modified":"2023-06-06T04:50:36","modified_gmt":"2023-06-06T04:50:36","slug":"weekly-headlines-2022-12-w2","status":"publish","type":"post","link":"https:\/\/wagecan.com\/blog\/2022\/12\/10\/weekly-headlines-2022-12-w2\/","title":{"rendered":"Weekly Headlines 2022.12 W2"},"content":{"rendered":"\n

\u201cI think Bitcoin means investment. It means opportunity. It means prosperity. It means financial independence.\u201d   <\/em><\/strong>\u2013 Ted Cruz, US Senator<\/em><\/p>\n\n\n\n

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\"\"<\/figure>\n\n\n\n

Weekly News Report:<\/strong><\/p>\n\n\n\n

News<\/strong><\/p>\n\n\n\n

1. India Looks to Coordinate Global Crypto Rulemaking as It Assumes G-20 Presidency<\/p>\n\n\n\n

\u2013 India took over the G-20 presidency at the start of the month and now has a year to coordinate international guidelines around crypto.<\/p>\n\n\n\n

2. Apple\u2019s New Encryption Policy Is a Huge Boon for Crypto<\/p>\n\n\n\n

\u2013 Opt-in end-to-end encryption tools are an immense win for digital privacy \u2013 and crypto.<\/p>\n\n\n\n

3. PayPal Expands Crypto Service Into Luxembourg in First EU Foray<\/p>\n\n\n\n

\u2013 The move follows the initial rollout of the crypto service in the U.S. in 2020, followed by an expansion to the U.K. last year.<\/p>\n\n\n\n

4. FTX hires forensics team to find customers\u2019 missing billions: Report<\/p>\n\n\n\n

\u2013 Lawyers have claimed FTX assets are either stolen or missing and now a team of financial forensic experts is attempting to trace the money trail.<\/p>\n\n\n\n

5. Privacy-Focused Gnosis Chain to Undergo Its Own Proof-of-Stake \u2018Merge\u2019<\/p>\n\n\n\n

\u2013 This will mark the second time in blockchain history that a chain swaps out its old model for proof-of-stake.<\/p>\n\n\n\n

6. Central bank plans to make CBDC \u2018only legal digital tender\u2019 in Indonesia, says gov<\/p>\n\n\n\n

\u2013 \u201cCollaboration and synergy on national and international level are critical to the development of Digital Rupiah,\u201d said Perry Warjiyo.<\/p>\n\n\n\n

7. Nifty News: Reddit NFT mints reach all-time high, EU\u2019s $400K Metaverse party flops and more<\/p>\n\n\n\n

\u2013 With the record mint day for Reddit avatar NFTs, there are now around 4.4 million Reddit NFTs in circulation.<\/p>\n\n\n\n

Institution<\/strong><\/p>\n\n\n\n

1. Hong Kong Amends Finance Law to Incorporate Crypto Firms<\/p>\n\n\n\n

\u2013 Virtual asset service providers will be covered by terror financing and anti-money laundering rules as of June 2023.<\/p>\n\n\n\n

2. Some Central Banks Are Looking to Issue a CBDC Within 10 Years: OMFIF<\/p>\n\n\n\n

\u2013 Generally, 35% of central banks were more inclined to issue a CBDC despite recent events in crypto, the Official Monetary and Financial Institutions Forum said after surveying 18 entities.<\/p>\n\n\n\n

3. South Korea\u2019s Central Bank Wants to Oversee Stablecoins<\/p>\n\n\n\n

\u2013 The country joins other jurisdictions in proposing standards for stablecoin issuance.<\/strong><\/p>\n\n\n\n

4. Spain\u2019s Central Bank Opens Call for Proposals for Wholesale CBDC Project<\/p>\n\n\n\n

\u2013 The proposal period will be open until Jan. 31 for financial institutions and tech providers.<\/strong><\/p>\n\n\n\n

5. Why a Divided Congress Is Bullish for Crypto<\/p>\n\n\n\n

\u2013 Bipartisan efforts to regulate crypto are moving forward, but U.S. representatives should keep crypto\u2019s core tenets of privacy, decentralization and financial freedom closely in mind.<\/p>\n\n\n\n

6. Goldman Sachs to Spend \u2018Tens of Millions\u2019 on Discounted Crypto Investments After FTX Implosion: Report<\/p>\n\n\n\n

\u2013 The investment bank sees a bigger need for trustworthy and established players in the crypto market.<\/strong><\/p>\n\n\n\n

7. Guiding the Chinese Central Bank Digital Currency the World Admires and Fears<\/p>\n\n\n\n

\u2013 Many nations, especially the economic superpowers, began the year in fear of being left behind by China\u2019s relentless progress with its digital yuan. For leading the development of the most advanced major CBDC, Mu Changchun is one of CoinDesk\u2019s Most Influential 2022.<\/strong><\/p>\n\n\n\n

Market<\/strong><\/strong><\/p>\n\n\n\n

1. FTX Revival Proposal Supported by Sam Bankman-Fried Lifts FTT Token<\/p>\n\n\n\n

\u2013 The crypto exchange\u2019s founder tweeted his support for influencer Ran Neuner\u2019s revival idea, sending the battered tokens as much as 47% higher.<\/p>\n\n\n\n

2. AI-Related Tokens Surge as Maple, Ren Fall: CoinDesk Market Index Week in Review<\/p>\n\n\n\n

\u2013 AI platform Fetch.ai\u2019s native token FET surged 80% in the past five days, according to data from CoinDesk Market Index.<\/p>\n\n\n\n

3. Bitcoin\u2019s Lightning Network Could Be Getting a Privacy Upgrade<\/p>\n\n\n\n

\u2013 One new standard being developed by Blockstream is already running on the company\u2019s Core Lightning implementation.<\/p>\n\n\n\n

4. 2022 Crypto Venture Funding On Pace To Break 2021 Record<\/p>\n\n\n\n

\u2013 Seed and early-stage crypto startups drew heavier checks this year than in 2021, according to Pitchbook.<\/p>\n\n\n\n

5. 2022 \u2013 Crypto Markets: A Year in Review<\/p>\n\n\n\n

\u2013 Coming off euphoric highs of the year before, the crypto market has endured an environment of tightening monetary policy, which led to sell-offs, implosions of projects like Terra, bankruptcy filings of CeFi companies, including Celsius Network and Voyager Digital and the climactic downfall of the FTX exchange.<\/p>\n\n\n\n

6. Ethereum Developers Target March 2023 for Release of Staked Ether<\/p>\n\n\n\n

\u2013 Staked ETH withdrawals are coming in the spring, while \u201cproto-danksharding\u201d will follow in the subsequent hard fork in the fall.<\/p>\n\n\n\n

7. How Confident Are Institutional Investors About Bitcoin? COT Report May Offer Clues<\/p>\n\n\n\n

\u2013 A second consecutive week of increased exposure in the Commitment of Traders weekly measurement of investor activity would signal an undercurrent of confidence.<\/p>\n\n\n\n

8. Grayscale Bitcoin Trust Discount Widens to Record High Near 50%<\/p>\n\n\n\n

\u2013 The shares have not traded at a premium to bitcoin since March 2021.<\/p>\n\n\n\n

9. Binance\u2019s Bitcoin Reserves Are Overcollateralized, New Report Says<\/p>\n\n\n\n

\u2013 Mazars performed a proof-of-reserves and proof-of-liabilities assessment on the centralized exchange.<\/p>\n\n\n\n

10. Fan tokens struggle to hold on as World Cup quarter-finals draw nearer<\/p>\n\n\n\n

\u2013 Soccer fan tokens have seen their prices and trading volumes plummet since the start of the World Cup on Nov. 20.<\/p>\n\n\n\n

11. Hoops Legend Scottie Pippen Shoots a \u2018Web3\u2019 With Virtual Sneakers<\/p>\n\n\n\n

\u2013 The six-time NBA champion is working with Web3-based entertainment company Orange Comet to produce a new collection of NFT-based kicks.<\/p>\n\n\n\n

12. BTC Dominance Is Behaving Weirdly, and That\u2019s Sort of Good<\/p>\n\n\n\n

\u2013 It\u2019s likely we are witnessing the consolidation of the crypto market\u2019s speculative nature.<\/p>\n\n\n\n

13. Bitcoin Mining Difficulty Drops by Most Since July 2021 as Crypto Winter Cuts Profitability<\/p>\n\n\n\n

\u2013 Bitcoin miners are being caught between rising costs and the lower price of bitcoin.<\/p>\n\n\n\n

14. Bitcoin price recovery possible after record realized losses and leverage flush out create a healthier market<\/p>\n\n\n\n

\u2013 On-chain analysis highlights a slowdown in selling and improving investor sentiment, which could help BTC price recover.<\/p>\n\n\n\n

15. Bullish on Bitcoin, US Senator Ted Cruz wants Texas to be a crypto oasis<\/p>\n\n\n\n

\u2013 Texas combines plentiful energy at relatively low prices with free enterprise, according to the lawmaker.<\/p>\n\n\n\n

16. Avalanche to power Alibaba Cloud\u2019s infrastructure services in Asia<\/p>\n\n\n\n

\u2013 Avalanche\u2019s partnership with Alibaba Cloud will see the development of tools that enable users to launch validator nodes on Avalanche\u2019s public blockchain platform in Asia.<\/p>\n\n\n\n

NFT<\/strong><\/p>\n\n\n\n

1. NFT Marketplace Magic Eden Pushes Further Into Gaming With New Hire<\/p>\n\n\n\n

\u2013 Chris Akhavan will take on the new role of chief gaming officer to build the marketplace\u2019s Web3 gaming strategy following its expansion to the Polygon network.<\/p>\n\n\n\n

2. The Contagion Fever Breaks: NFTs Dominate Art Basel<\/p>\n\n\n\n

\u2013 The price of ether is down nearly 65% since last year\u2019s Miami Art Week. But this year\u2019s art fair saw an uptick in events, attendees and conversations around Web3 technologies and their road map to mass adoption.<\/p>\n\n\n\n

3. CoinDesk Got Colorful With the Most Influential 2022 NFT Collection<\/p>\n\n\n\n

\u2013 CoinDesk has partnered with 14 truly incredible artists to immortalize on-chain some of the Most Influential 2022, whose NFT portraits will be made available in an exclusive auction being held on Coinbase NFT.<\/p>\n\n\n\n

4. Aave\u2019s Social Media Protocol Lens Acquires NFT Mobile Game Sonar<\/p>\n\n\n\n

\u2013 With the acquisition, Lens Protocol will be integrated into a game app which claims to have 20,000 active users per month.<\/p>\n\n\n\n

5. Crypto.com\u2019s CRO Surges as it Launches World Cup NFTs with Coca-Cola<\/p>\n\n\n\n

\u2013 10,000 NFTs will be hosted on Crypto.com\u2019s blockchain based on \u201cheatmaps\u2019\u201d from World Cup matches.<\/p>\n\n\n\n

Metaverse<\/strong><\/p>\n\n\n\n

1. DMI finds CBDCs not targeting cross-border payments, huge potential in Metaverse<\/p>\n\n\n\n

\u2013 The Digital Money Institute\u2019s third annual payments report looks at CBDCs for the first time, as well as other payment methods, through the lens of cross-border payment utility.<\/p>\n\n\n\n

2. Decentraland launches virtual property renting for LAND owners<\/p>\n\n\n\n

\u2013 The metaverse platform announced that users who own LAND within Decentraland can officially rent out the rights to the space through the digital marketplace.<\/p>\n\n\n\n

Web3<\/strong><\/p>\n\n\n\n

1. Starbucks Launches Beta of Web3 \u2018Odyssey\u2019 Loyalty Program<\/p>\n\n\n\n

\u2013 The test of the experiential program combines customer loyalty rewards with NFT collecting and other gamified elements.<\/p>\n\n\n\n

2. Most Underreported Trend in 2022: Crypto Is Embracing Mobile<\/p>\n\n\n\n

\u2013 You can have your metaverse and VR headsets, writes Boyd Cohen, CEO and co-founder of Web3 startup Iomob. In 10 years he predicts the masses will still be in the real world using smartphones, so if you are a crypto evangelist, jump on the mobile bandwagon.<\/p>\n\n\n\n

3. Nike\u2019s RTFKT Announces Plans for Web 3.0 Sneakers<\/p>\n\n\n\n

\u2013 The Cryptokicks iRL would have gesture controls, walk detection, and wireless charging features.<\/p>\n\n\n\n

December 9, 2022<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cI think Bitcoin means investment. It means opportunity. It means prosperity. It means financial independence.\u201d   \u2013 Ted Cruz, US Senator Weekly News Report: News 1. India Looks to Coordinate Global Crypto Rulemaking as It Assumes G-20 Presidency \u2013 India took over the G-20 presidency at the start of the month and now has a year to coordinate […]<\/p>\n","protected":false},"author":3,"featured_media":288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71],"tags":[141,8,17,53,27,118,60],"_links":{"self":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/441"}],"collection":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/comments?post=441"}],"version-history":[{"count":2,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/441\/revisions"}],"predecessor-version":[{"id":444,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/posts\/441\/revisions\/444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media\/288"}],"wp:attachment":[{"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/media?parent=441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/categories?post=441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagecan.com\/blog\/wp-json\/wp\/v2\/tags?post=441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}